Market Shakeup: Jio Financial Services’ Lackluster Debut Leaves Investors on Edge!

Jio Financial Services Ltd (JFSL) had a lackluster start on the stock exchanges on Monday. The shares of JFSL were introduced with a listing price of ₹265 on the BSE and ₹262 on the National Stock Exchange (NSE).The listing price for JFSL was slightly higher than the discovered price of ₹261.85 per share. The equity shares of Jio Financial Services Ltd, formerly known as Reliance Strategic Investments Limited, have been approved for trading on the Exchange as part of the T Group of Securities.

Jio Fin Chart
Chart Of Jio Fin As of on 22 Aug 2023

The share price of Jio Financial Services Ltd will be included in the Trade-for-Trade segment for a period of 10 trading days.

The share price of Reliance Industries experienced a decrease of slightly more than one percent following the listing of Jio Financial Services shares on Monday.The shares of Reliance Industries declined by as much as 1.55%, reaching a value of ₹2,517.00 per share on the BSE. Concurrently, the shares of Jio Financial Services also saw a decline of 5%, triggering a lower circuit, shortly after being listed on the stock exchanges.

Jio Financial Services holds a market capitalization of approximately ₹1.6 lakh crore at the time of the market opening. The market capitalization (m-cap) of JFSL is currently valued at ₹1,59,943 crore, with each share priced at ₹251.75 on the BSE.
On the National Stock Exchange (NSE), the company’s market capitalization stands at ₹1,58,133 crore, with the present share price being ₹248.90 per share.

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